Hello Pal, a proprietary suite of mobile apps that focuses on social interaction, language learning and travel, has confirmed the start of mining operations in Australia, according to a recent Press release
Hello Pal will operate in Victoria
According to the press release, the company is expected to operate in a southeastern Australian state called Victoria, while the actual location remains unknown. The site will house approximately 100 Bitmain Antminer L7 mining rigs, which are now fully operational and have started mining Litecoin (LTC) and Dogecoin (DOGE).
“We are delighted that our mining operations are resuming and pleased to have been able to diversify our rig locations with this Australian mining facility,” said KL Wong, Founder and Chairman of Hello Pal. “We look forward to the remaining 300 mining rigs in North America also starting operations soon.”
The press release claims that the mining rig has a hashrate of 9500 MH/s, which is around 19 times more powerful than that of the previous L3+ model. Moreover, with a previous stability rate of 70%, Hello Pal has improved significantly in terms of relatively less power-consuming equipment and a stability rate of 98%. Profit margins are expected to jump significantly.
Moreover, out of the total of 100 platforms, CPal Technology Limited owns about 75, while Hello Pal Asia Limited owns the other 25. The data center established in Australia also has the capacity to manage around 20,000 platforms.
Is Australia a new crypto hub?
Australia has apparently emerged as a crypto-friendly hub as the nation has attracted a lot of attention from exchanges and businesses. Recently, FTX unveiled its expansion plans in the monitored country. Additionally, the Australian Bitcoin Exchange Traded Fund or ETF is also expected to start trading on the Cboe exchange by next week.